Digi Power X (NASDAQ:DGXX) Trading Up 15.5% - Should You Buy?

Key Points

• Digi Power X Inc. (NASDAQ:DGXX) saw a significant increase of 15.5% in trading on Friday, with shares reaching a high of $3.27 before last trading at $3.05.
• Analysts have mixed ratings for Digi Power X, with a current consensus rating of "Hold" and a target price of $3.17, while two analysts rated it as a Buy.
• The company reported a quarterly revenue of $8.11 million, surpassing expectations, with earnings per share of ($0.28), beating the consensus estimate.

Digi Power X Inc. (NASDAQ:DGXX - Get Free Report) was up 15.5% during trading on Friday . The company traded as high as $3.27 and last traded at $3.05. Approximately 4,377,899 shares changed hands during mid-day trading, an increase of 239% from the average daily volume of 1,291,384 shares. The stock had previously closed at $2.64.

Analyst Ratings Changes

A number of research analysts have recently commented on DGXX shares. Industrial Alliance Securities set a $3.50 price target on shares of Digi Power X in a report on Tuesday, September 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Digi Power X in a report on Wednesday. Wall Street Zen upgraded shares of Digi Power X from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. HC Wainwright reiterated a "buy" rating and set a $2.50 target price on shares of Digi Power X in a report on Wednesday, August 20th. Finally, Alliance Global Partners assumed coverage on shares of Digi Power X in a report on Tuesday, September 2nd. They set a "buy" rating and a $3.50 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Digi Power X presently has a consensus rating of "Hold" and a consensus target price of $3.17.

Digi Power X Price Performance

The business has a fifty day moving average price of $2.54. The firm has a market cap of $139.78 million, a P/E ratio of -4.77 and a beta of 5.60.

Digi Power X (NASDAQ:DGXX - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.07. Digi Power X had a negative net margin of 58.85% and a negative return on equity of 70.55%. The business had revenue of $8.11 million for the quarter, compared to analysts' expectations of $7.80 million.

About Digi Power X

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.